TEPCO Subsidiary Taps into Bitcoin Mining to Utilize Wasted Renewable Energy

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  • TEPCO’s Agile Energy X is using wasted solar energy to power Bitcoin mining rigs, reducing energy loss in Japan.
  • In 2023, Japan curtailed 1,920 gigawatt-hours of renewable energy, equivalent to the annual power usage of 450,000 households.
  • Agile Energy X estimates that using 10% of surplus renewable energy for Bitcoin mining could generate $2.5 billion annually.

Agile Energy X, a division of Tokyo Electric Power Co. (TEPCO), is leading the way in using excess renewable energy for Bitcoin mining. Recent reports indicate that the company is now utilizing spare solar energy to operate its Bitcoin mining rigs.

https://twitter.com/earnwithrk/status/1833006963711434858

Green Energy Utilization

The project focuses on Japan’s renewable energy ‘output control,’ which reduces energy production to maintain grid stability. Agile Energy X’s goal is to harness and utilize this energy that is currently wasted. The company’s president, Kenji Tateiwa, is confident that the success of this project will lead to increased use of green energy throughout Japan.

Solar Power Usage in Bitcoin Mining

Agile Energy X placed Bitcoin mining machines close to solar farms in Gunma and Tochigi prefectures. The objective is to utilize energy that would be otherwise lost. In 2023, Japan squandered 1,920 gigawatt-hours of renewable energy, sufficient to provide electricity for 450,000 homes. Agile Energy X is capitalizing on this surplus energy by making money with Bitcoin mining.

Estimated Earnings From Extra Power

Agile Energy X projects that if Japan achieves 50% renewable energy, around 240,000 gigawatt-hours could be unused each year. Using only a portion of 10% of the excess amount could result in $2.5 billion in annual earnings through Bitcoin mining. This presents a major chance for businesses to cut down on waste and boost earnings.

Agile Energy X’s project has the potential to revolutionize Japan’s utilization of renewable energy. By converting unused electricity into Bitcoin mining, the company can decrease energy wastage and generate additional income. This program may serve as a blueprint for other nations facing comparable energy management obstacles.

The post TEPCO Subsidiary Taps into Bitcoin Mining to Utilize Wasted Renewable Energy appeared first on Crypto News Land.

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